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Non-Tech : Raptor's Den -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lee who wrote (2991)	8/23/2002 12:44:26 AM
From: mishedlo	Respond to of 10157

quote.cboe.com Well I see they upped the premium. LOL They were negative the last time I sold. At any rate there is no premium (but all that gets you is the same position as being pure short). Sorry, the play is gone, but I assure you it was there. Did several posts on it. Last March you could have bought some with -5% premium if I recall correctly. They were 100% for sure selling under intrinsic value. I believe TomMasso pointed out the play to me. I had to look at it a few times as it looked absurd. You could have made a decent money just holding to expiration. BUT.... The puts can not be exercised until the strike date so you would have had to commit to holding them that long. At any rate, the 04 124 puts will cost you 34.30 which is intrinsic value. Sorry, the play is no longer there. I do not know about a killing but I believe it was a free lunch. Could have locked in a guaranteed 5% (or whatever the intrinsic discount was). M